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JACKSON HOLE REAL ESTATE REPORT

2024 Third Quarter

Our complete 1st & 3rd quarter reports are not posted on this website, but instead are only available by email. To receive the rest of this first quarter report, and sign up for all four quarterly reports via email.

2024 – Is Building a Home in JH Just a Dream for Most?

In our 2023 year-end Jackson Hole Report we explored balancing Preservation and Growth in Jackson Hole. The report delved into the valley’s developable land history, the scarcity thereof and why, our current housing inventory, and Collaboration for Expansion. The report also broke out the remaining vacant residential land inventory and where it’s located in the valley.

While we also discussed the cost to build a new home in JH and surrounding bedroom communities, we did not explore the cost of the land to build your home on. With the recent skyrocketing cost for single-family platted lots in Jackson Hole we felt it important to discuss the issue further in this report.

At the end of 2023, there were 1,292 vacant single-family platted lots in the valley. Today there are 1,242. These lots can range in size from .17-acre (50ft x 150ft) in the Town of Jackson (TOJ) to 35+ acre lots. These only allow one primary residence per lot.

When we first moved to Jackson in 1992, the average sale price for a single-family lot valley-wide was $181,000. You could also buy a nice “Teton view” lot backing national forest, in the Town of Jackson for $70,000. Today the average list price for a single-family lot valley-wide is $5.56 million, and the average sale price for a lot in the TOJ as of Q3 2024 was $1.13 million. Note: The $70,000 “Teton view” TOJ lot back in 1992 would fetch well over $2 million today.

Our complete 1st & 3rd quarter reports are not posted on this website, but instead are only available by email. To receive the rest of this first quarter report, and sign up for all four quarterly reports via email.

  • This third-quarter report is not posted on the Jackson Hole Report website. Instead, it is provided exclusively via email, as a service to all our valued customers and clients here at Engel & Volkers Jackson Hole. The data is collected and analyzed quarterly to help you keep up with trends in our market.
  • While other local Real Estate Brokers attempt to report on the local real estate market, we are the only ones to track every single transaction. Therefore, if you want the most accurate information to help guide you through your next real estate transaction, please call David, Devon and Luke today. “We are the Experts”.
  • All statistics are supplied by sources that have been deemed reliable but are not guaranteed.
  • All statistics quoted in this newsletter are based on sales in 2024 compared to sales in 2023.
  • Median sale price is the cost of a property that has an equal number of sales above and below it on the price scale.
  • Average sale price is the total combined dollar volume divided by the number of sales.
  • In this report, “overall” refers to all sales in Teton County combined (homes, lots, condos, commercial, and ranch), not including Alta, WY.
  • The term “Market Value” means the value of property in terms of what it can be sold for on the open market; current value.

© Copyright 1995 – 2024 by David E. Viehman and Devon Viehman. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without explicitly written permission from David E. Viehman.

© Copyright Jackson Hole Report 1995 - 2024 & Jackson Hole Luxury Report 2013 - 2024
© Copyright Engel & Völkers 2024. All rights reserved. Each brokerage independently owned and operated. All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principles of the Fair Housing Act.